Multi-family

Introducing 253 E 49th Street, New York, NY 10017—an excellent investment opportunity located in the heart of Manhattan’s Central Business District. Part of a portfolio of properties, this 4-story, 2-star mid-rise apartment building offers a total of 4,295 sq. ft. of space, making it an ideal acquisition for investors seeking affordable, rent-stabilized units in a prime NYC location.

Property Overview:

Address: 253 E 49th Street, New York, NY 10017
Price: $8,495,000 ($707,917/Unit)
Sale Type: Investment
Type: 2-Star Mid-Rise Apartments
Units: 6
Stories: 4
Class: C
GBA: 4,295 sq. ft.
Typical Floor: 1,000 sq. ft.
# of Buildings: 1
Units per Acre: 300/AC
Market Segment: All
Rent Type: Affordable
Affordable Type: Rent Stabilized

Key Features:

• Prime Central Location: Situated in the Central Business District, this property enjoys a prime Manhattan location. The building is strategically positioned in proximity to business districts, public transportation, and renowned restaurants, ensuring high demand from tenants seeking both convenience and quality living in a vibrant area.
• Affordable Housing with Rent-Stabilized Units: This building offers six rent-stabilized units, catering to individuals seeking affordable living options in New York City’s competitive rental market. Rent stabilization ensures long-term tenants and provides a steady rental income for investors.
• Investment Potential: At $8,495,000 and $707,917 per unit, this property is an excellent investment opportunity, especially as part of a portfolio. The rent-stabilized nature of the units ensures reliable income and the opportunity for long-term growth, making it a strong asset for any investment portfolio.
• Efficient Unit Layouts: The building’s six units average 1,000 sq. ft. per floor, offering well-designed, functional living spaces that can meet the needs of a diverse range of tenants. The floor plans provide ample space for residents while maintaining a manageable and cost-effective building size.
• Class C Building with Stability: As a Class C property, this mid-rise apartment building offers affordability combined with long-term stability. Its location in a high-demand area of Manhattan ensures that it will continue to attract tenants, while its manageable size and structure provide low maintenance and operational costs.
• Part of a Portfolio: This property is being sold as part of a portfolio, offering investors the opportunity to acquire multiple assets in one transaction. This can provide greater flexibility and opportunities for portfolio diversification and growth.

Conclusion:

253 E 49th Street presents a fantastic investment opportunity with affordable rent-stabilized units in one of New York City’s most sought-after areas. With its solid financial metrics, prime location, and affordable housing offering, this property is an ideal choice for investors seeking long-term stability and growth in the Manhattan real estate market. Don’t miss this chance to secure a valuable piece of New York City’s rental market!